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Kobre & Kim LLP announced that Daniel Saval has joined the firm’s cross-border insolvency litigation practice as a partner in the New York office. Formerly a partner at Brown Rudnick, Saval represents clients in multijurisdictional insolvency and corporate restructuring disputes, and he has particular experience in contentious proceedings involving funds in liquidation triggered by fraud or wrongdoing. Saval recently represented Carl Icahn entities in the Trump Entertainment bankruptcy proceedings, during which Mr. Saval litigated plan confirmation issues relating to cramdown interest rates, enforceability of intercreditor agreement provisions and termination of intellectual property licenses.
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Seventh Circuit Applies Safe Harbor to Private Securities Transaction
By Michael L. Cook
“… [T]he term ‘securities contract’ as used in [Bankruptcy Code] §546(e) unambiguously includes contracts involving privately held securities,” The Seventh Circuit held in Petr v. BMO Harris Bank, N.A.
By Lawrence J. Kotler and Elisa Hyder
In Lafferty v. Off-Spec Solutions, the U.S. Bankruptcy Appellate Panel of the Ninth Circuit held that the discharge exceptions under Section 523(a) do not apply to corporate debtors under Subchapter V of Chapter 11 of the Bankruptcy Code.
Merchant Cash Advances Could Be More Trouble Than They’re Worth
By Joseph Pack and Jessey Krehl
As small-business owners have continued to struggle in an uncertain economy, a growing number have begun the dangerous practice of relying on merchant cash advances — essentially seeking financial shelter in a lion’s den.
Biotech Industry Bankruptcy Case Update: ‘Zymergen’ and ‘Humanigen’
By Edward E. Neiger, Marianna Udem and Joo Hee Park
This Bankruptcy Case Update focuses on the recent biotech industry bankruptcy cases of Zymergen and Humanigen.
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